HomeDenmarkNovo Holdings Commits €188M To Build Quantum Tech Startup Ecosystem

Novo Holdings Commits €188M To Build Quantum Tech Startup Ecosystem

Novo Holdings

Novo Holdings, the Copenhagen, Denmark-based holding and investment company responsible for managing the assets and the wealth of the Novo Nordisk Foundation, has committed €188M to a new program to build a quantum tech startup and venture capital ecosystem.

The firm plans to use the resources to invest in, support and advance some of the world’s most promising quantum technology companies with applications in the life sciences.

The quantum industry, which develops novel technologies such as quantum computers or quantum sensing based on quantum physics, holds the potential to strongly impact a number of industries, and in particular the life sciences.

Quantum Investments, which will be anchored with Seed Investments, where a new dedicated sub-team will be established, will focus on quantum computing, sensing, and algorithms – all areas that have relevant applications within healthcare, and a significant applicability within the broader life sciences sector.

The investment mandate is global with Novo Holdings potentially investing beyond the Nordics.

Launching a quantum technology hub in Denmark aligns with a number of recent initiatives by the Novo Nordisk Foundation, most notably the establishment of the Novo Nordisk Foundation Quantum Computing Programme (NQCP) that aims to establish a fully functional and generally applicable quantum computer and The Quantum Foundry, a limited liability company fully owned by the Novo Nordisk Foundation with the purpose of developing quantum materials and quantum chips as well as the associated fabrication tools.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio of equities, bonds, real estate, infrastructure and private equity assets. It is a life sciences investor and, through its Seeds, Venture, Growth, Asia, Bioindustrial and Principal Investments teams, invests in life science companies at all stages of development. As of year-end 2023, Novo Holdings had total assets of EUR 149 billion.  

VCWire

02/05/2024